870 karma · joined February 6, 2011
The immediate trend is towards trade denominated in various national currencies, but the ultimate trend is towards bootstrapping a new commodity-backed reserve currency via an international organization such as BRICS.
Arguing that USD won’t be displaced because it’s entrenched in various systems and used a lot completely misses the point that the underlying factors which created that state of affairs in the first place have collapsed.
What's the evidence for this?
Damn these dirty communists! That's not how we do business in Silicon Valley!
As you say, the difference is whose interests dictate these ends: those of ordinary citizens or those of the monopolies and international finance.
But it doesn’t matter regardless because any attempt to impose authoritarian climate measures on China will send the West into economic crisis, one way or another.